Bitcoin ($BTC ) is still holding strong around the $79K–$80K area after previously printing an intraday high around $80,785. What’s interesting is that BTC has not lost the $79K area even though it saw sell-side pressure after the rally toward $80K.
Price data from the past few days shows that Bitcoin’s momentum is still quite strong. BTC closed at around $79,027 on August 26, after previously reaching a high of $81,235 on August 25.
$79K So This Is the Area to Watch
In my opinion, the $79,000 area is now becoming one of the interesting levels to watch.
As long as Bitcoin can hold above this area, the short-term structure still looks constructive.
But there’s one problem.
Bitcoin is facing a bigger resistance around the $80K–$82K area. That area previously triggered profit taking after BTC printed a high around $81,238.
So for traders, the question isn’t just:
“Is Bitcoin bullish?”
But:
“Can $BTC turn the $80K–$82K area into support?”
Two Scenarios I’m Tracking
🟢 Bullish
If Bitcoin can break through and hold above the $80K–$82K area with sufficiently strong momentum, the breakout could open up room to continue the rally.
One of the analysts cited by Reuters believes that a sustained break above that area could pave the way toward $95K–$100K. Of course, that’s a scenario, not a guaranteed target.
🔴 Bearish
On the other hand, if Bitcoin gets rejected again in the $80K–$82K area and loses $79K, selling pressure could increase.
In situations like this, traders should watch whether the drop is only a pullback or begins to turn into a reversal.
Why Can Bitcoin Hold at This Level?
There are several macro catalysts currently supporting Bitcoin sentiment.
Bitcoin has recently received a boost from the weakening of the US dollar and growing attention on U.S. Treasury policies related to long-term bond buybacks. This factor also reinforces the Bitcoin narrative as an alternative asset to the risk of currency value depreciation.
In addition, institutional interest and inflows into spot Bitcoin products are also among the factors supporting the latest rally.
However, after a fairly fast rise, profit taking remains a risk.
So, What Am I Tracking?
For $BTC, I will watch three levels/areas:
$82K → an important breakout area.
$79K–$80K → an area bulls need to hold.
Below $79K → a sign that short-term momentum is starting to weaken.
I’m not going to chase a candle just because Bitcoin looks bullish.
It’s also more interesting to see how price reacts when it hits resistance.
A breakout + hold will send a different signal compared to a breakout followed immediately by rejection.
For now, $BTC is still in an interesting area to monitor.
Do you think Bitcoin will manage to break through $82K, or will it face rejection again?